FinKidz Academy

Free guide for parents

Pocket money guide: tips by age

Pocket money is one of the easiest ways to teach children about choices, saving and giving. Here’s how to start, and how to grow it as your child grows.

Getting started

  • Pick a regular day and stick to it — predictability teaches planning.
  • Choose an amount your family is comfortable with. There is no “right” number; consistency matters more.
  • Agree in advance what pocket money is for (treats, small toys, airtime) and what you still pay for.
  • Let them make small mistakes. Running out before the next payday is a cheap, powerful lesson.
  • Talk about choices, not just amounts: “Is this a need or a want?”

Tips by age

Ages 8–10

Explorers

  • Use three clear jars: Spend, Save and Share. Splitting each payment makes money visible.
  • Set one small savings goal they can reach in a few weeks, and draw a progress chart on the jar.
  • Let them pay at the till themselves and check the change together.
  • Count coins and notes together to build confidence with rand values.

Ages 11–12

Builders

  • Move to a simple written or app-free budget: money in, money out, money left.
  • Introduce bigger goals that take a term to reach, so they practise patience.
  • Offer optional ways to earn extra for jobs beyond normal household chores.
  • Compare prices together in the shop — same item, different sizes or brands.

Ages 13–14

Future Leaders

  • Pay monthly instead of weekly so they plan over a longer stretch.
  • Hand over a category they now manage themselves, like airtime or outings.
  • Talk openly about online scams, in-app purchases and “too good to be true” offers.
  • Explore saving with interest and a small business idea, using pretend or supervised money.

Keep it safe and private

Children don’t need to know household income to learn about money. Practise with pretend money and fictional examples, and keep real accounts supervised.

Turn pocket money into a weekly habit

FinKidz Academy gives children aged 8–14 a short money lesson every week. Try Weeks 1–2 free — no card needed.

Start Week 1 free See Week 2